What are the best Spanish mortgage rates you can get?

August 2019 update

In order to know the last levels of the Spanish mortgage rates, you need to start with the real data: the data of the last mortgages issued in Spain. This will help you to know what are the best Spanish mortgage rates right now. Of course, don’t forget, if you are a foreigner you have to remember that as your assets are mainly abroad, your rate will be higher than the one reported here.

The “Instituto Nacional de Estadisticas”, INE, just released the Mortgage statistics of Spain for the month of June 2019. It is very informative and will give you the current market rates.

The growth is very strong: the number of mortgages issued in Spain decreased by 2.5% vs the same month one year ago… And a 16.9% yearly growth for the mortgages issued in Valencian Community.

Current financing conditions for housing

Average mortgage has an interest rate of 2.57% (vs 2.62% last month)

The average mortgage rate decreased by 3% vs 1 year ago

The lowest rate ever is 2.57!

The average mortgage duration is 24 years

55.5% have variable interest rates

44.5% have fixed interest rates

The average rate for variable rate mortgages is 2.29%, 6.1% less than 1 year ago,

The average rate for fixed-rate mortgages is 3.01%, 1.3% less than 1 year ago,

The average amount issued per mortgage is €119,964: a increase of 3,7% vs last year.

29,900 mortgages were issued -2.5% vs last year.

3,6 € Bn of mortgages issued for housing in May 2019, -6.1% vs last year.

Do you want to price your own mortgage?

To help you out, we have created an easy to use table of the monthly repayments depending on the amount you want to take for a mortgage. If you want to go deeper into details, use our calculator to fine tune your mortgage to your situation and you will find out what would be your monthly payments, mortgage schedule,…

Get our advice to get the best rates at the end of our 2-minutes 30 seconds video

345.186 mortgages issued in 2018

During the year, we had more than 345.000 mortgages issued in Spain. You should compare that to the number of properties sold of 570.000, which means, in our opinion, that the market is not over leveraged. In 2017, 310.096 mortgages were issued and in 2016, the number of mortgages issued was 283.000, that is a 14.6% growth year over year vs 2015.

About Us

Our founders started this website as they had to go through the hassle of the Spanish residential market themselves a few years ago and noticed that there was no answer on the market.
They joined forces with experts in Spain and made real knowledge available to all.
This website will help you decrease the uncertainty regarding your project: learn about the market and the processes associated with your purchase and decrease the risks thanks to the help of our network of independent experts.